UBS Global Asset Management and AEGON introduced a joint venture called UBS AEGON Affordable Risk Transfer Solution. The pension fund buyout business, which targets funds with liabilities in excess of £300 million ($590 million), combines asset management, risk management, administration and insurance capabilities to provide tailored programs that allow clients to shift pension liabilities in tranches, according to a news release. This increases the probability of lower overall costs and makes risk transfer more affordable for partially funded plans, according to the release. UBS is currently in discussion with a number of clients. UBS spokeswoman Sarah Small said no additional information was available.